I have been working with veterinarians over the past twenty years to facilitate the financing used to supports the construction of a dream facility or the necessary expansion to fuel rapid growth within a hospital. In all of these projects, one consistent theme is, planning and preparation. This simple step lays the foundation for a successful project. I will be at New York Builds spending some time talking in more depth about each of these key take homes, but if you are thinking about a construction project here is what preparation will allow you to achieve.
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- A project that starts out with a budget the hospital can support. Resulting in a facility that is designed within the budget.
- The cash injection or equity is defined before you start the project, no last minute surprises.
- Goals of the project are defined and then met during with the completion of the new hospital.
- Teamwork is the centerpiece of execution.
- A timeline and expectations are defined and managed.
- All parties have defined responsibilities.
Responses
Hi Travis,
With a growth mindset yet understanding limits for the initial construction, how do you plan for or incorporate expansion of facilities into the overall plan?
Emily,
This is a great questions that often times comes up in the part of the construction process that contractors refer to as programming, or designing your facility. If you work with an experienced veterinary architect and contractor alongside of a strong and experienced lender you can build a facility that will fit within today’s budget and provide for easier conversion and expansion as the hospital grows. Please feel free to send me a direct message if you want to discuss further.